Served Arbitration Claim from Asset Acceptance - Questions
Date: Wed, 02/27/2008 - 13:14
I was served with an arbitration claim from Asset Acceptance. It is for a debt with last payment 11/2003. I live in Michigan and it is within the 6 years. The original balance was $12K. The amount listed in the Arbitration form is $15K. I received a settlement offer of $15K.
I am disabled and bring home $1600 a month. I do side jobs that bring in an additional $800. I have a credit card with $5K.
I contacted Asset Acceptance and offered to settle for the $5K. They said no but would take the $5K and set up payments for the rest. I said no.
What will happen with Arbitration? Will I need to show my Tax Returns? Will I need to provide bank records? Is it feasible the Arbitrator will accept the $5K?
Help I have a few days to reply to the claim
I am disabled and bring home $1600 a month. I do side jobs that bring in an additional $800. I have a credit card with $5K.
I contacted Asset Acceptance and offered to settle for the $5K. They said no but would take the $5K and set up payments for the rest. I said no.
What will happen with Arbitration? Will I need to show my Tax Returns? Will I need to provide bank records? Is it feasible the Arbitrator will accept the $5K?
Help I have a few days to reply to the claim
best thing to do is say no to abitration and demand a court hear
best thing to do is say no to abitration and demand a court hearing.. Abritration takes away your rights and they con turn it into a judgment right away.. good luck and keek us posted
